On Wednesday, Commissioner Al Dyer joined Mayor Victor Carstarphen and members of the city council for a walk through of a newly constructed housing unit located at 1110 North 21st Street in the Cramer Hill neighborhood.
In recent years, Camden has experienced a renewed interest in private market rate and new housing construction. In a May 6, 2024 report, Axios analyzed data from the real estate website Zillow and found that the top three ZIP codes with the greatest home appreciation in the Philadelphia metro area are located in the City of Camden. The city’s market rate housing prices are up 40% since last year, while offering residents the lowest average property taxes in New Jersey.
“Camden is experiencing incredible growth across the board,” Commissioner Al Dyer said. “From the local economy and job force to the housing market, this city is on the rise. The increasing demand for housing in Camden shows that when we work together to improve our community, great things are possible.”
According to a recent NJ.com article, and comparable Zillow listings across New Jersey a 1,300-square-foot, three-bedroom unit listed for $185,000 in the City of Camden, may list for $325,000 in neighboring Cherry Hill, $295,000 in New Brunswick, or $725,000 in Jersey City.
The Phoenix Development Group, the owners of the property, successfully subdivided the lot at 1110 North 21st Street into two 20-foot by 100-foot lots, now known as 1108 and 1110 North 21st Street. The semi-detached twin consists of two homes with ample off-street parking and luxury high-end finishes throughout. Both units which were listed for sale at a price of $340,000, were placed under contract and sold for above the asking price. The unit at 1110 North 21st Street sold for $360,000 and 1108 North 21st Street was put under contract for $350,000.